ESTATE PLANNING
Once those details have been hashed out, it’s up to the lawyers to pull the will together. “Essentially, the will is designed to ensure a distribution of assets that is both fair and aligned with your wishes,” she says. “For example, if there’s a cottage, it could go to the children equally or it could go to one child. There may not be a child who wants a cottage or children who now live too far away to enjoy it, so that’s where the will comes in — it can provide for more practical equalizations — for example, substituting one asset for another.”
It all starts with making the appointment — and following through with the meeting. “Once people come in and meet with us, they realize that the process isn’t as daunting as they thought it would be,” Katz says. “We know the questions to ask. It’s just a matter of making the effort to get out and do it. We’ll take it from there.” All that said, the will and estate planning process isn’t easy and typically takes about one month to complete. During that time, families might want to meet to hash things out and make some key decisions. “Family meetings can be very informative,” Katz says. “There can be some tough discussions, but in many cases it can be helpful to have them. For example, someone will have to be named executor of the estate. If there’s a family cottage, there needs to be a discussion about that and who it might go to. Other discussions might revolve around investments and even bitcoin.”
A valid will is your assurance that your wishes will be followed to the fullest extent.
Manitoba 17
Powered by FlippingBook